Dropbox IPO priced at $21 per share - CNBC

1 Min Read

March 22 (Reuters) - Dropbox Inc’s initial public offering, the largest tech stock debut in more than a year, was priced at $21 per share, CNBC reported on Thursday, citing a source familiar with the matter.

The cloud-based file-storage firm raised its expected price range by $2 to $18 to $20 per share on Wednesday, on the back of strong demand.

At $21, the San Francisco-based company will have a market cap of about $9.18 billion on a fully diluted share count.

The IPO raised about $756 million in the largest tech IPO since Snap Inc raised $3.9 billion in its debut last year. Dropbox shares are set to start trading on Friday at the Nasdaq under the symbol “DBX.” (Reporting by Nikhil Subba in Bengaluru Editing by Sriraj Kalluvila and Dan Burns)